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The Good News
Positive USDA Trade Forecast
2013 March
Pg 3 - The Sunshine Express
Restaurant Sales Increase Forecast
The grants ranged in size from $3,650 to $3 mil-
lion and require local or federal participation.
The projects receiving funding include safety and
infrastructure projects needed at airports rang-
ing from Denver International Airport, one of the
world¡¯s busiest, to community airports in places
such as Springfield and Paonia.
¡°It has been gratifying to see this program grow
over the years,¡± said Joe, Thibodeaux, chairman
of the Colorado Aeronautical Board. ¡°Our public-
use airports have consistently come to us with
outstanding projects that serve important public
transportation needs, and we are pleased to be
able to help make these projects a reality. This
is a true example of state/local and often federal
partnerships that together help us accomplish
much more than any of us would be able to do by
ourselves.¡±
The Aviation Discretionary Grant Program was
instituted by an amendment to the Colorado
Constitution in 1992. Proposals from public-use
airports are received and evaluated by CDOT
Aeronautics staff and approved by the Aeronauti-
cal Board, which is comprised of aviation industry
representatives appointed by the governor and
approved by the Colorado Senate.
Western Slope Colorado communities/airports
receiving the grants are listed below:
* Animas Airpark, Durango
* Aspen Pitkin County Airport
* Blake Field, Delta
* Cortez-Montezuma County Airport
* Durango-La Plata County Airport
* Eagle County Regional Airport
* Garfield County Regional Airport, Rifle
* Gunnison-Crested Butte Regional Airport
* Hopkins Field, Nucla
* Las Animas City and County Airport
* Meeker Airport
* Montrose Regional Airport
* North Fork Valley Airport, Paonia
* Rangely Airport
* Steamboat Springs Municipal Airport
* Telluride Regional Airport
* Yampa Valley regional Airport, Hayden
Gov. Hickenlooper announces
grants to 44 Colorado airports
On Friday, Feb. 15, Gov. John
Hickenlooper authorized the dis-
tribution of $20.6 million in state
aviation fuel tax revenues through
44 grants to Colorado general avia-
tion airports under the Aviation
Discretionary Grant program. The
program is administered by the
Colorado Department of Transpor-
tation¡¯s Division of Aeronautics.
¡°We have improved public-use air-
ports all across the state by lever-
aging these grants with local and
federal matching funds,¡± Hicken-
looper said. ¡°These airports are
critical to the economic well-being
of communities as energy, tourism
and business travel to local desti-
nations continues to grow. Devel-
oping and maintaining an efficient,
safe transportation system is vital
to Colorado¡¯s economic growth.¡±
Fiscal 2013 agricultural exports are forecast at a
record $142 billion, down $3.0 billion from the
November forecast, but $6.2 billion above final
fiscal 2012 exports. Grain and feed exports are
forecast down $4.3 billion mostly on reduced corn
prospects. Oilseed exports are up $1.0 billion due
to strong soybean meal and oil shipments. Cotton
exports are forecast up $400 million, primarily due
to greater import demand from China. The forecast
for livestock, poultry, and dairy is up $300 million
with greater beef and poultry exports outweighing
lower pork sh ipments. Horticultural exports are
unchanged at a record $32 billion. Sugar and tropi-
cal products are forecast down $300 million on
lower expected expor ts to Canada and Mexico.
US agricultural imports are forecast at a record
$112.5 billion, $2.5 billion lower than the Novem-
ber forecast, but $9.1 billion higher than in fiscal
2012. The reduced forecast is largely due to lower
expected imports of sweeteners, coffee, and rubber.
The forecast trade balance in fiscal 2013 is lowered
$500 million to $29.5 billion. This is down $2.9 bil-
lion from fiscal 2012.
Economic Outlook: World Growth To Rebound
The world economy grew by 2.4 percent in 2012,
below the 2.9 percent rate of 2011. Trade growth in
2012 dropped to 2 percent from a robust 7 percent
in 2011. Asian GDP growth slowed as European
imports shrank. Higher Western Hemisphere
growth offset the European recession¡¯s impact
on developing economies¡¯ exports and growth,
preventing a worldwide recession. World trade
growth is expected to accelerate to between 4 and
5 percent in 2013, as world output growth rises to
2.7 percent. Europe¡¯s recession and Japan¡¯s growth
slowdown will be the major factors preventing
more rapid world growth in 2013. Expected higher
growth in the US, Asian, and Latin American econ-
omies will drive the expected higher growth in
2013. The dollar which appreciated 1/2 percent for
2012 from a very low level, will likely depreciate
between 1 and 2 percent in 2013. The weaker dollar
and higher growth in developing Asia and Latin
America will boost US exports, despite a lack of
European customers. Expansion of US investment
will boost US imports and the depreciating dollar
will make exports cheaper. So, trade growth will
help boost US and world output growth in 2013.
Worldwide, monetary authorities have contin-
ued boosting credit availability. In China, half of
the measured credit expansion in the last quarter
of 2012 was to finance trade. In the developing
world, prior tight credit, currency appreciation, a
continuing recession in the Eurozone, and anemic
Japanese growth will dampen growth in 2013,
although it will be higher than in 2012. China is
expected to see faster export growth, but rising
wages, spot labor shortages and reluctance by both
households and businesses to increase borrowing
may curtail the domestic growth impact of recently
eased credit policies. Brazil and Argentina, due to
strong export growth, higher investment and high
commodity prices are expected to grow faster in
2013. The main, but low probability, risk to world
growth in 2013 is a possible currency war as na-
tions are tempted to boost exports at the expense of
trade partners. Financial markets and most analys
ts consider a significant spillover of the Eurozone
financial problems to North American and Asian
financial institutions unlikely in 2013.
The modest dollar depreciation expected in 2013
will be favorable to US farm and manufactured
goods exports. Further, continued inexpensive
credit for financing trade and higher develop-
ing economies¡¯ growth will boost US and world
exports. Total world trade is expected to be up 4 to
5 percent in 2013. Higher expected world growth,
especially in developing economies, lower US
energy prices, and more available credit make the
outlook for US agricultural trade promising in
2013. Because of high US energy export transport
costs, the new US energy supplies from US gas and
oil fields will be available on domestic US markets
at a discount relative to world prices. Farmers will
44 Aviation Grants
Distributed
CO Restaurant Sales Poised for Growth in 2013
¡°Data released by the National Restaurant As-
sociation shows that Colorado once again will
have stronger sales this year than last year, and
outpace the national average in disposable in-
come, employment, and population growth,¡± said
Peter Meersman, Colorado Restaurant Association
President & CEO. ¡°Disposable income is expected
to advance 2.5 percent in Colorado in comparison
to 1.5 percent nationally, total employment growth
at 1.9 percent will surpass the national average of
1.5 percent, and we will again have population
growth. Those three things add up to more restau-
rant sales statewide.¡±
Colorado restaurant sales are expected to increase
from $9.10 billion in 2012 to $9.46 billion in 2013,
an increase of 4 percent, which places Colorado 6th
in the country in restaurant sales growth. Nation-
ally, industry sales are projected to reach $660.5
billion this year. According to the NRA¡¯s 2013 Res-
taurant Industry Forecast, the foodservice industry
in Colorado will employ 239,400 workers, up from
237,000 in 2012.
The restaurant employment data released also
takes a look forward into 2023. Colorado is predict-
ed to add 32,600 restaurant industry jobs over that
period of time, from 239,400 in 2013 to 272,000 in
2023, a 13.6 percent total increase, with an annual
average increase of 1.3 percent.
¡°This is good news for restaurant operators, our
239,400 employees, and our 2 million daily custom-
ers,¡± said Meersman. ¡°2013 will be a good year
in terms of sales growth and pent-up demand for
the food, service and social outlet that Colorado
restaurants provide.¡±
The Colorado Restaurant Association(CRA) is the
leading business association for the restaurant
industry in Colorado, which comprises over 10,000
restaurant and foodservice outlets and a work-
force of 239,400 employees. In partnership with
Sysco Denver, CRA operates the Rocky Mountain
region¡¯s largest trade show (WestEx May 2, 2013 in
Denver); manages the leading food safety training
and certification program ServSafe; and supports
the CRA Education Foundation¡¯s unique career-
building high school program, Colorado ProStart.
In addition, the association owns an Insurance
Agency that provides general liability and casu-
alty insurance to over 600 hospitality businesses in
Colorado. For more information, visit www.colora-
dorestaurant.com and find CRA on Facebook.
benefit from lower fuel and fertiliz-
er costs in 2013, facilitating higher
output and higher trade volumes.
Overall, world macroeconomic fac-
tors will be very favorable for US
farm export volumes in 2013.